Financial Times FT.com

Russia’s soaring corruption ‘puts investors off’

By Arkady Ostrovsky in Moscow

Published: November 27 2006 20:47 | Last updated: November 27 2006 20:47

Russia’s inefficient and corrupt state administration is a key impediment to investment – both foreign and domestic – as well as to the government’s ability to implement any of its policies, according to the Organisation for Economic Development and Co-operation.

Measuring corruption may be difficult, but there is “a widespread consensus that it has been growing in recent years”, the Paris-based think-tank says in its latest economic survey of Russia. Transparency International, the Berlin-based corruption watchdog, also places Russia near the bottom in its corruption perception index, next to Sierra Leone and Nigeria.

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